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Jan 16 - 04:55 PM

USD/JPY - Slips For Second Day As Trsy Yields Retreat

By Robert Fullem  —  Jan 16 - 02:04 PM

• USD/JPY slides as Trsy yields slip following dovish Fed Waller comments

• Waller said falling U.S. inflation may allow Fed cuts sooner and faster

• Pair is down for a second day, setting a 155.11- 156.53 EBS range

• Momentum shifts in favor of bears, drop below 155 tests some long positions

• Vol levels are subdued, gamma in demand ahead of Trump inauguration Monday

• Supp: 154.97 Fibo of Dec to Jan rise, 154.87 Dec. 18 high, 154.45 Dec 19 low

• Resist: 157.05 Dec. 25, Jan. 14 low, 157.37 21-DMA and 157.80 Dec 19 high

• Increased expectations of a BOJ Jan. hike buoys yen broadly

• EUR/JPY steadies after setting 159.69 1-mo. low as fwds pts narrow

• GBP/JPY is guided toward the key 190 support level

• MOF weekly investment flow data due Friday
yen


(Robert Fullem is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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